A Practice Note providing an overview of commercial real estate loans in New York. This Note discusses the steps involved in securing financing, including the loan application, due diligence, the loan closing, and post-closing matters. This Note focuses on the framework of a typical first-priority loan secured by a single asset of real estate, but the guidance and explanations provided can be applied to other forms of real estate financing, including corporate loan facilities secured by a borrower's multistate real estate assets.